Naira Exchanges For N712/$ At Parallel Market

The naira on Thursday exchanged for N712 per dollar at various black markets, OduNews reports.

On the other hand, the local currency depreciated further at the cryptocurrency peer-to-peer FX market, trading at a minimum of N718.6961 on Thursday morning, a 0.29% decline from N716.59/$1 that it traded at the same time on Wednesday.

Furthermore, the domestic currency made more gains in the interbank segment of the market against the British Pound Sterling and the Euro in the midweek session.

Against the Pound Sterling, the Naira was strengthened by 72 Kobo to wrap up at N488.59/£1 versus Tuesday’s N489.31/£1 and against the Euro, the Nigerian currency improved by N2.83 to settle at N426.75/€1 versus N429.58/€1.

The crypto market recorded a boost in many of the tokens early morning on Thursday.

Litecoin (LTC) jumped by 3.8 per cent to trade at $54.34, Cardano (ADA) recorded a 1.9 per cent climb to sell at $0.4528, Bitcoin (BTC) made a 1.3 per cent gain to quote at $19,311.70, Binance Coin (BNB) appreciated by 1.1 per cent to trade at $271.40, Dogecoin (DOGE) added a 1.0 per cent to its value to sell for $0.0596, Solana (SOL) jumped by 0.9 per cent to settle at $32.28, Ripple (XRP) recorded a 0.8 per cent appreciation to trade at $0.4154, and Binance USD (BUSD) recovered 0.02 per cent to sell at $0.9999.

However, the value of Ethereum (ETH) waned by 0.4 per cent to sell at $1,347.76, while the US Dollar Tether (USDT) closed flat at $1.00.